Role of Traditional Authority 167. (1) Legislation of the states shall provide for the role of Traditional Authority as an institution at local government level on matters affecting local communities. (2) Legislation at the National and state levels shall provide for the establishment, composition, functions and duties of councils for Traditional Authority leaders. PART TWELVE FINANCE AND ECONOMIC MATTERS CHAPTER I GUIDING PRINCIPLES FOR DEVELOPMENT AND EQUITABLE SHARING OF NATIONAL WEALTH Guiding Principles 168. (1) The National Government shall promote, support and encourage broad based and balanced and participatory economic development based on the principle of subsidiarity and devolution of governmental functions and powers to the appropriate levels where the people can best manage and direct their own affairs. (2) Equitable economic development shall be based, inter alia, on the agricultural and agro-industrial sectors, and promotion of private sector conducted in accordance with the best known practices of sustainable development within a framework of transparent and accountable governance. (3) The National Government shall promote and encourage the participation of the people in the formulation of its development policies and programmes. (4) The National Government shall endeavour to build institutional, human, social and economic capacity, develop infrastructure and social services, and raise the standard of public services to attain the Millennium Development Goals. (5) The sharing and allocation of resources and national wealth shall be based on the premise that all states, localities and communities are entitled to equitable development without discrimination. (6) National wealth and other resources shall be allocated in a manner that will enable each level of government discharge its legal and constitutional responsibilities and duties and ensure that the quality of life and dignity of all the people are promoted without discrimination on grounds of gender, religion, political affiliation, ethnicity, language or locality. (7) The National Government shall fulfill its obligations to provide financial transfers to all levels of government, and shall, except as otherwise provided herein, apportion revenue equitably among the states and local governments. 61